Lost Decades: The Making of America’s Debt Crisis and the Long Recovery

The book sets out how the large scale imbalances, both
internal and external imbalances, have played a major role in leading
into the crisis and the challenges the US (and other countries) face in the
coming decade to address the imbalances. The book takes a broader, more global
view on the crisis than most other books on this topic, which make the
messages in the book not just relevant for the US but for the
current European situation and beyond.

An important addition to the book is the
transcript of a moderated session at the IMF, where the authors and discussants
focus on the long-term global adjustments that will have to be made into the
next decade.